Money SA economy
The JSE's all share index was around 100 points firmer by midday, but traders said the market was very lacklustre ahead of the Easter long weekend.
Local traders were surprised that the JSE was not firmer after the very positive news from the Far Eastern markets this morning.
By noon, the all share index was up 0.34%, with resources up 0.67%, gold miners 0.46% higher, but platinum miners were virtually unchanged despite a surging platinum price.
Banks were off 0.19%, financials eased 0.11% and the industrial index advanced 0.23%. Gold was quoted at $1 116.03/oz from $1 115.82/oz at the JSE's last close and platinum was at $1 662/oz from $1 647.50/oz at the JSE's last close.
"The market is looking very lacklustre ahead of the long weekend and after yesterday's quarter-end. It's a very mixed. A few of the big shares such as Nedbank, Sasol and Metropolitan have gone ex-dividend, but overall it is very mixed," said a local trader.
Positive news from the Far East, which boosted Asian shares, was largely shrugged off by the JSE.
"Asian manufacturing was sharply up, the Tankan survey showed a sharp improvement in business sentiment, exports were up sharply from South Korea and Taiwan and base metals are rallying. I would have expected a stronger start for the JSE," a trader commented earlier.
The uptick in Asian sentiment contrasted with Wall Street losses on Wednesday, suggesting investors were encouraged by the improving regional economic indicators.
In London, the FTSE 100 was last up around 50 points.
On the JSE, Anglo American was up R2.55 to R321.50 and BHP Billiton was R1.64 higher at R253.64. However, Sasol shed R6.73 or 2.22% to R296 as the counter went ex-dividend.
